Wednesday, April 20, 2011

LPO And KPO in India

Legal process outsourcing in India (LPO in India) and knowledge process outsourcing in India (KPO in India) are very remunerative and challenging business fields. Indian legal industry is maturing and very soon foreign law firms and legal industry players would also operate from India.

In these circumstances, Indian LPO and KPO providers must enhance their expertise and specialisation. If they have to stay in the LPO and KPO business they have to upgrade their skills and core strengths.

There is also a difference between LPO and KPO. While the former can be managed by many legal and para legal firms in India yet the latter requires domain-specific expertise that few Indian firms possess. The market for ICT related and techno legal LPO and KPO services in India are emerging and more is expected from market leaders like Perry4Law. For instance, areas like e-discovery in India and its litigation and corporate uses is the specialty of Perry4Law that other are not providing.

The future of any organisation depends upon the capability of its workforce and to retain such workforce it has to invest considerably. This expenditure may at times increase the cost of production or operating the organisation. Organisations use many types of cost management and cost reduction techniques to minimise their expenses. This practice also applies to the legal industry.

Legal practice is very lucrative and remunerative in developed countries like US, UK and the European Union. There the cost of retaining even entry-level employees is very high. Many well known law firms of these developed countries outsource their back office and clerical work to LPO companies in India.

According to Praveen Dalal, managing partner of Perry4Law and CEO of the internationally renowned LPO and techno-legal KPO segment of PTLB, “LPO in India is attracting lot of Foreign Firms and Companies to outsource their legal works to India. During the recent time, Perry4Law received various requests regarding Partnerships, LPO Assignments, Empanelment requests, etc. We are hopeful of even a larger services contribution when the KPO industry in India would emerge and mature as Perry4Law is world renowned for it techno-legal KPO services.

LPO and KPO assignments are bound to increase in future due to global developments. More and more corporate houses and investment banks from the US are looking towards the Indian LPO industry for legal advice. In the present globalised world, India is surely heading for a great start.